Signing Up and Sending:
Q How long will signing up take?
Generally it should take about 3-5 minutes
Q Signing up on-line is 100 points I.D. required?
Yes.The law stipulates that 100 points I.D. must be provided to satisfy Anti Money Laundering and Counter Terrorism laws.This is completed only once at the initial registration stage
Q How long does it take to complete the 100 points I.D. on-line?
The 100 point I.D. check is done on-line and takes only a few minutes. NB Have your 100 points I.D. information ready (ie passport; drivers license details etc)
Q Once the 100 points I.D. has been completed on-line does M2CASH require copies of these sent to them?
No. Nothing more is required
Q When signing up what accounts can money be sent from?
Money can be sent from either debit or credit MasterCard or Visa or a nominated Bank Account
Q Can more than one card or bank account be registered?
Yes a maximum of 3 cards/accounts can be registered
Q How does the sender know if the funds have been sent?
When sending money on-line the sender will receive an on screen acknowledgement receipt at the time the funds are sent together with receiving an SMS message
Q How does the sender know if the receiver has collected the funds?
As soon as the funds are collected the sender is automatically notified by SMS
Signing Up and Sending:
Q Can I only sign up on-line?
No, you can go to any M2CASH Sign-up facility displaying the M2CASH Sign-up symbol and sign up there to send money
Q How long will signing up take?
Generally it should take about 3-5 minutes
Q What if I want to send money but don’t want to sign up - can I send money anyway?
Yes. money can be sent over-the-counter at any M2CASH outlet
Q Does the sender need anything except the cash when sending via the over-the-counter method?
Yes. When sending money over-the-counter the sender will need to comply with standard I.D. checks (100 points I.D.). Generally this will only need to be provided once however this may vary as some countries do require I.D. each time money is sent
Q Is there an extra charge if the over-the-counter method is used to send money?
No, the transfer fee is the same as sending money on-line via computer or web enabled phone
Q If the sender has already registered on-line can they also use the over-the-counter method?
Yes, by just providing the M2CASH Account Number and details
Q What about the shared secret PIN code between the sender and receiver when sending money over the counter?
The sender will be asked to enter in the shared secret PIN code into the key pad at the outlet. This must not be revealed to anyone except to the person receiving the money
Q How does the sender know if the funds have been sent?
The sender will be given a receipt with the transfer details together with receiving an SMS message
Q How does the sender know if the receiver has collected the funds?
As soon as the funds are collected the sender is automatically notified by SMS
Q How secure is the money sent by the M2CASH method?
The M2CASH system is fully automated and encrypted and complies with International Banking Standards. The
money is fully insured and automatically dispersed to a locked and secure trust holding account
Q What happens if the receiver doesn’t collect the money sent?
If the receiver doesn’t collect the funds within the specified time-frame (nominated by the sender at the time of sending – maximum 72 hours) the system will auto refund the full transfer amount within 72 hrs of the expired period
Q What if the money was sent by the over-the-counter method and the receiver does not collect it?
The money will be refunded back to the original over-the-counter facility and the sender will be notified by SMS to come and collect the refund. NB The sender will be required to know the shared secret code to collect these funds.& ID receipt number
Q What if the sender makes a mistake with the receiver’s mobile number and it goes to the wrong number?
The funds can only be collected when the 3 parts of the M2CASH transfer are entered in by the receiver. That is the amount of money sent, the computer generated authorisation code received only by the receiver and the agreed secret shared 4 digit PIN code. If the SMS was sent to the wrong mobile number that person would not be able to collect the funds as they would not know the secret shared 4 digit code. The funds would be refunded as previously outlined.
Q Can the sender allow other people to use their M2CASH account to send money?
No. Like bank accounts and bank PIN numbers only the authorised user can operate that M2CASH account. The sender must not reveal or give anyone the M2CASH password or login number. In line with the M2CASH Terms and Conditions the sender must never use common numbers that are personal to them such as date of birth, as the login number
Q Why doesn’t the person who sent the funds have details of the computer generated code?
For security reasons only the receiver has all 3 key components required to collect the funds
Q What is the cash limit for sending?
The maximum amount is $2,000 from the sender’s account per day per card. However, this may vary from country to country
Q Can I send amounts including dollars and cents, say $27.10c ?
All transactions will be in rounded denominations to match the note denominations typically held in the ATM dispenser
Q Can other currencies be sent within the same country?
No. The sender can only send money overseas to another country in another currency
Q If the sender is travelling overseas and wants to send money can this be done?
Yes. It is the same process regardless of where that person is, however it is recommended not to use of a publically shared computer to send funds
Q If sending money to an overseas destination, how will the sender know what currency to send?
Once the country is selected to send the money to, M2CASH will automatically select the correct currency for that country
Q If sending money to an overseas destination, how will the sender know the exchange rate?
The exchange rate is automatically calculated and rounded to the nearest amount compatible with the converted
currency. The sender will only be advised of the conversion rates
Q If the sender’s money is returned is there an extra charge?
Yes. There is a 6 Euro charge on any unclaimed transaction refunded and is reversed after the expired period nominated
Q If the refund is in another currency will the sender be charged a different exchange rate when the money is refunded?
No. The refund is equal to the amount sent at the time of exchange, less the 6 Euro unclaimed transaction charge
Q How does the sender let the receiver know the secret code?
The sender will need to contact the receiver to reveal the secret shared 4 digit PIN code. This same code can be used
for future transactions
Q Does the receiver require any I.D. to collect the funds?
If the receiver is collecting the money from an ATM or EFTPOS facility that person will only be required to know the computer generated transfer number, the amount sent and the secret shared 4 digit code which has been agreed
between the sender and the receiver. If the receiver is collecting the money from an over-the-counter M2CASH outlet that person will also be required to produce I.D
Q How will the receiver know how much the sender has sent and the computer generated number?
Once the funds have been sent, an SMS containing this information is sent to the receiver
Q Is there a cost for the receiver to collect the money?
No. The receiver collects all of the funds which were sent (as the transfer fee and foreign exchange fee (if the transfer is international), is paid as an added charge by the sender) For instance, the sender sends someone $100, the sender will pay for a transfer and exchange fee in addition to that, but the receiver will receive the $100 transferred amount that was sent.
Q Can the receiver send someone else to collect the money?
No. Only the intended receiver can collect the transferred funds.
Q How does the sender know if the receiver has collected the funds?
As soon as the funds are collected the sender is automatically notified by SMS.
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